Remitly is one of the most popular apps for sending money home, especially for remittances to Latin America, Africa and Asia. But handing your money to an app instead of a bank naturally raises the question: is Remitly safe? The short answer is yes — Remitly is a fully licensed, regulated money transmitter used by millions of people. Here is the detail behind that, including how it is regulated, how your money is protected, and the real risk to watch for.
The short version
- Yes, Remitly is safe — a licensed, regulated money transmitter used by millions.
- Regulated by FinCEN in the US (with money transmitter licences in all states) and the FCA in the UK, among others.
- Security: 256-bit encryption, two-factor authentication and real-time fraud monitoring.
- The real risk is scams, not the platform — only send to people you know.
Is Remitly legit?
Remitly is an established, publicly traded financial-technology company that has been operating since 2011 and processes billions of dollars in transfers for millions of customers. It specialises in cross-border remittances and is a well-known, mainstream service — not an obscure app.
How Remitly is regulated
Remitly is a licensed money transmitter in every market where it operates:
- United States: registered with FinCEN as a Money Services Business and holds money transmitter licences in all US states and territories where it operates.
- United Kingdom: authorised by the Financial Conduct Authority as an Electronic Money Institution.
- Also regulated in Canada, the EU, the Philippines and other markets.
These licences require Remitly to follow strict rules on protecting and handling customer money.
Security features
Remitly protects your account and transactions with 256-bit SSL encryption, two-factor authentication and real-time fraud monitoring. It also verifies customers in line with anti-money-laundering requirements. In practice, the technology and processes are on par with what you would expect from a major financial service.
How your money is protected
As a licensed money transmitter, Remitly is required to safeguard customer funds, and most transfers move through the system quickly rather than sitting in a balance. The one thing to understand — true of Remitly, Wise and every money-transfer app — is that these companies are not banks, so your money is not covered by deposit insurance like FDIC. Their licences and safeguarding obligations are what protect you, and for sending money that protection is well established.
The real risk: scams
The most important safety point has nothing to do with Remitly’s technology. Money-transfer services are a favourite tool of scammers precisely because transfers are fast and hard to reverse. Remitly itself is safe, but you should only ever send money to people you personally know and trust. Be extremely wary of anyone — a stranger, an online “romance,” a “prize,” or a supposed official demanding urgent payment — who pressures you to send money quickly. Once collected, a transfer is very difficult to get back.
So, is Remitly safe?
For sending money internationally, Remitly is safe, legitimate and properly regulated, with strong security and a long track record. Understand that it is not a bank, stay alert to scams, and you can use it with confidence. To see how it stacks up on cost, read our Wise vs Remitly and Remitly vs Western Union comparisons.
Sending money with Remitly?
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Open the currency converterFrequently asked questions
Is Remitly safe to use?
Yes. Remitly is a legitimate, fully licensed money transmitter used by millions. It is FinCEN-registered with money transmitter licences in all US states, regulated in the UK, Canada, the EU and elsewhere, and uses encryption, 2FA and fraud monitoring.
Is Remitly regulated?
Yes — FinCEN-registered in the US with state money transmitter licences, FCA-authorized in the UK as an Electronic Money Institution, and regulated in Canada, the EU and the Philippines among others.
Is my money protected with Remitly?
Remitly safeguards customer funds as required by its licences, and transfers pass through quickly. Like all money-transfer apps it is not a bank, so funds are not FDIC-insured; its licences and safeguarding are what protect you.
How does Remitly protect against fraud?
With 256-bit encryption, two-factor authentication and real-time fraud monitoring. The main risk is scammers, not the platform — only send to people you know.
Is Remitly legit for large transfers?
Yes. It is licensed and regulated and used for many transfer sizes. For very large sums, compare the amount delivered against providers like Wise, which can be cheaper on big bank-to-bank transfers.
Related: Is Wise safe? · Wise vs Remitly · Best money transfer apps